Jan Rindbo News

Danish shipowner Norden announced it has acquired four Capesize newbuilds expected to be delivered between 2025-2027.With the latest investments, adding to the five owned and seven chartered Capesize vessels, Norden is moving toward its ambition to operate between 20-25 Capesizes.The company said it has seen "strong demands from customers looking to unlock economies of scale by sizing up to improve efficiencies while lowering emissions"."The investments are furthermore a testament to the long-term opportunities we are seeing in the dry cargo markets," the company added.Jan Rindbo, CEO of Norde

Danish shipping company Norden and Canadian mining company Teck Resources announced an agreement to reduce CO² emissions in Teck’s steelmaking coal supply chain.The agreement is expected to reduce annual emissions from Teck shipments handled by Norden by 25%, or up to 6,700 tonnes of CO², equivalent to removing over 1,400 passenger vehicles from the road.Norden said it will achieve emission reductions by utilizing a range of solutions, including the use of fuel-efficient ships…

Danish shipping company Norden on Wednesday announced it has acquired a minority stake in Mash Makes, a Danish-Indian biofuel scale-up, which researches, develops and produces renewable fuels from biomass waste.Under the deal, Norden—which operates a fleet of tankers and bulk carriers—secures access to renewable fuels, specifically biooil, at favorable pricing, the company said, noting it will also benefit from future renewable biooils once developed.“We cannot rely solely on…

Danish shipping company NORDEN announced Friday it has entered into an agreement to acquire the Thorco Projects business, providing access to new customers within the general cargo segment such as break bulk, steels and wind energy.Denmark-based Thorco Projects, part of Thornico Group, has in recent years transformed into an asset light business operating a chartered fleet of 30-40 vessels, including mostly Handysize vessels, where NORDEN is a significant operator. The acquisition…

The pace of shipments from Ukraine under a U.N.-backed initiative has slowed as concerns grow over ships getting stuck if a deal is not renewed later this month, according to sources and data. Russia, which is one of the key parties involved, said it will keep talking, although Moscow has threatened to quit on May 18, which has created more uncertainty for traders and shipping companies trying to plan ahead. Under the accord, Ukraine has been able to export some 29.5 million tonnes of agricultural products, including 14.9 million tonnes of corn and 8.1 million tonnes of wheat.

Shipping group NORDEN has acquired larger capesize dry bulk ships, aiming to benefit from China's economy reopening and expectations of a pick up in commodities trade, the Danish company's CEO said. Three years of rigid border controls and sweeping lockdowns during the pandemic have sapped business confidence in China, especially among foreign firms, according to sentiment surveys. China has set itself a target for gross domestic product growth of around 5% this year, after significantly missing its target for 2022.

Danish shipping company Norden said it has sold the 2011-built product tanker Nord Andes to an unnamed Asian buyer just 10 months after the vessel was acquired.The sale comes after the vessel was purchased by Norden in December 2019, and underlines Norden’s strategy to be an asset-trading company, Norden said.“We are driven by the opportunities we see in the market to continuously optimize our fleet,” said Jan Rindbo, CEO, Norden. “Having generated excellent revenues on the vessel during a strong market, we have now sold Nord Andes at roughly the same level as the purchase price, which is an agile asset trade within just 10 months.”The tanker market experienced a significant spike in earnings in the first half of 2020 due to increased demand for floating storage…

Norden announced Tuesday it has added two bulk carriers to an existing newbuilding contract with shipbuilder Nantong Cosco Khi Ship Engineering Co. (NACKS), taking the total order to six vessels.The Danish shipowner said it has already sold two of the six vessels on sale and lease back terms, freeing up liquidity. The newbuilds are scheduled to be delivered from 2022.In addition, Norden said it bought a secondhand 2014 built Supramax bulk carrier scheduled to join its fleet in September.

Danish shipping company Norden announced Monday it has ordered four 61,000 dwt Ultramax bulk carriers from Nantong Cosco Khi Ship Engineering Co. (NACKS), for scheduled delivery in 2022.Norden CEO Jan Rindbo noted that the newbuilding contract is in line with the company’s strategy of agile asset trading and active management of Norden’s cyclical market exposure.“Having sold 10 dry cargo vessels since 2018, we believe asset prices have now declined sufficiently to present a good trading opportunity to buy…

Denmark-based NORDEN announced Monday it has sold a Handysize tanker, which was delivered to her new owners in late November 2019, and it purchased two medium range (MR) tankers, which were delivered in end-December 2019.NORDEN, which said it expects a continued strong market well into 2020 as refineries increase production to deliver the compliant fuels necessary for the IMO 2020 global sulphur regulation, noted it will continue to be active within the sale and purchase of vessels.“We are driven by the opportunities we see in the market…

Danish shipping company Dampskibsselskabet Norden A/S revealed plans to further intensify its efforts to drive the shipping industry towards a cleaner future and offer CO2 neutral transportation.The operator in the dry cargo and tanker has established a new, dedicated decarbonisation position to drive Norden’s decarbonisation efforts and meet the company’s ambitious emission reduction targets.The new role will accelerate Norden’s development of CO2 neutral transportation to customers and gather contributions throughout the organization into a united and efficient effort.Norden is committed to taking a leading role in the decarbonisation…

Danish shipping company Norden has signed a three-year contract of affreightment (COA) with Qatari chemical firm Qatar Vinyl Company, commencing in the second quarter of 2019.Qatar Vinyl Company, a subsidiary of Qatar Petrochemical Company, produces various polymers and chemicals. The agreement is for the shipment of salt from West Coast India to Qatar, where the salt will be used for chemical production.The shipping company operating in the dry cargo and tanker segment worldwide said in a press release that the contract marks a strengthening of the collaboration between the 2 parties and entails shipment of approximately 500,000 tons…

In the last couple of weeks, Dampskibsselskabet Norden A/S has sold off four dry cargo vessels as part of its strategy to become increasingly asset light and reduce the owned fleet to a tradable size, the Danish shipowner announced on Tuesday.The sold vessels are 2002-built Panamax vessel Nordkap, 2002-built Panamax vessel Nordpol, 2007-built Supramax vessel Nord Express and 2011-built Handysize vessel Nord Mumbai.“It is an integrated part of Norden’s business to buy and sell vessels when the right opportunities arise,” said Norden CEO Jan Rindbo.

Danish shipping giant Norden is opening an office in Abidjan, Ivory Coast, as part of the Company’s continued global expansion.The office will generate new business and focus on contributing positively to the development of the region, the dry bulk and tanker owner said in a press release.“Norden opens offices and employs people with a long-term horizon and that is also the case for our move into West Africa. We wish to come even closer to our business partners and increase our business presence and at the same time be part of and help the region develop by investing manpower, know-how, money and time in the maritime sector in Ivory Coast and West Africa…

Danish shipping company Dampskibsselskabet Norden has signed a ten-year Panamax contract of affreightment (COA) with Indian utility firm Sembcorp Energy India.Commencing April 1, Norden will carry out the transportation of steam coal in panamaxes totalling 12 million tonnes over the ten-year period  from Indonesia and South Africa to the port of Krishnapatnam in East Coast India.The voyages will be carried out on both Norden owned and chartered vessels.Norden pointed out in a press release that demand for energy in India is on the rise in line with the country’s economic expansion. Sembcorp Energy India Ltd is a leading independent power producer in India…

Netherlands-based supplier of sustainable low carbon marine fuels GoodFuels Marine in conjunction with bulker and tanker owner and operator NORDEN A/S,  has successfully completed trials of the world’s first zero emission, ‘drop in’ Heavy Fuel Oil (HFO)-equivalent marine biofuel – almost entirely reducing all carbon and sulphur emissions.A press release from the pioneer in sustainable marine fuels said that the culmination of three years extensive research and development with partners including Royal Dutch Boskalis and technology group Wärtsilä, GoodFuels’ Bio-Fuel Oil (BFO) delivers near-zero carbon and Sulphur Oxide (SOx) emissions…

Danish shipowner Norden has purchased 2 South Korean-built MR product tankers from 2009. Both vessels have a deadweight capacity of 50,000 tonnes and the acquisition further expands the Norden product tanker fleet ahead of the expected market improvement towards 2020.With the purchase, the Norden owned tanker fleet has been expanded with 4 MR vessels in 2018 bringing the total Norden tanker fleet up to 58 vessels including chartered vessels.A press release from the Denmark company quoted CEO Jan Rindbo as saying: “While product tanker market conditions have suffered from oversupply and weak demand this year, we expect an improvement towards 2020.

A who’s who list of maritime industry executives have signed on to voice their support for a zero-carbon future in shipping.The not-for-profit foundation the Global Maritime Forum brought together a group of 34 CEOs and industry leaders from across the global maritime sector to sign a call for action and lead the industry in a transition toward decarbonization.To achieve this, these leaders believe the maritime industry needs to accelerate both technological and business model innovation…

NORDEN is in the process of increasing its tanker exposure. The purpose is to take advantage of the business opportunities provided by the fluctuations of the cyclical market, said a communicaion from the company. ”During the strong tanker markets throughout 2015 and the first half-year of 2016, NORDEN prioritised coverage. We therefore reduced the open capacity for 2017 and onwards. But in the wake of the decline in the market during the second half of 2016, we have again started to increase our capacity and exposure. And this is done at competitive prices,” says CEO Jan Rindbo. NORDEN’s agile – i.e. fast and flexible – answer to market developments has a positive impact on results, he said.

Denmark based NORDEN said it has purchased a seven-year-old Japanese-built MR product tanker, its second vessel acquisition within a month. The purchase follows the acquisition of a 2009-built MR product tanker to be named Nord Pearl. “With the purchase of the MR product tanker, NORDEN once again takes advantage of the current reduced tonnage prices to increase the capacity and position the tanker business towards possible market improvements after 2017,” said NORDEN CEO, Jan Rindbo.

Danish shipping company NORDEN said it has purchased a 2009-built medium range (MR) product tanker with a cargo capacity of 50,000 metric tons. The South Korean-built vessel is expected to be delivered in July 2017 and will be renamed Nord Pearl. Taking advantage of the decline in asset prices on the back of weakening tanker markets, the purchase marks NORDEN’s first tanker acquisition since the company sold three Handysize product tankers last year. In addition to the purchase of Nord Pearl…

Danish shipping company Dampskibsselskabet Norden A/S has reported its adjusted result for the first quarter of 2017 at $1 million, against a loss of $5 million seen in 2016. The shipowner and operator in the dry cargo and tanker segment worldwide returned to an adjusted profit for the first time in two years. Norden’s tanker activities generated an adjusted result for the period of $10 million, compared to $15 million seen in the corresponding quarter in 2016. "In Dry Cargo, we did not benefit from the improving rates in the first quarter, but they have increased the value of NORDEN’s forward position in a year that overall still looks challenging in both segments,” Jan concluded.

Dampskibsselskabet NORDEN A/S has hired Christian Vinther Christensen as new head of the Dry Cargo Department.   Christian Vinther Christensen takes up his new position January 1, 2017 and becomes part of Senior Management reporting to CEO Jan Rindbo.   He brings with him 16 years of experience from the dry cargo operator Western Bulk. He is shipping educated at Maersk, where he, prior to his employment at Western Bulk, for 10 years held a number of positions in the group including management positions in Maersk Broker.